Sec 45(1)a ,

Guys I got confused while solving a simple problem about COA of capital assest which is destroyed by fire. In this case assest wdv at the begning of the year in which it was destroyed was rs 8lacs. And insurance claim receviecd rs 15 Lacs. now i want to ask that what amt Will be regarded as cap gains u/s 45(1)A ? 15lacs or 15-8=13 Lacs in the year of receipt? i m confused about the deduction of rs 8 Lacs from 15lacs.
Replies (2)
15 Lacs or 15-8=7 Lacs? It was wrongly posted above as 15-8 = 13 Lacs. Sorry for that.
Dear Mr. Garg It shall be 7 lacs as stcg u/s 50.

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